Pzena Investment Management LLC Cuts Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Pzena Investment Management LLC reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 380,897 shares of the insurance provider’s stock after selling 12,282 shares during the quarter. Pzena Investment Management LLC owned 0.57% of Reinsurance Group of America worth $50,568,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates increased its position in shares of Reinsurance Group of America by 18.7% during the fourth quarter. Raymond James & Associates now owns 165,766 shares of the insurance provider’s stock valued at $23,554,000 after buying an additional 26,133 shares during the period. Pictet Asset Management SA increased its position in shares of Reinsurance Group of America by 2.3% during the first quarter. Pictet Asset Management SA now owns 7,724 shares of the insurance provider’s stock valued at $1,025,000 after buying an additional 172 shares during the period. Belpointe Asset Management LLC increased its position in shares of Reinsurance Group of America by 267.3% during the fourth quarter. Belpointe Asset Management LLC now owns 3,589 shares of the insurance provider’s stock valued at $510,000 after buying an additional 2,612 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Reinsurance Group of America by 13.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,067 shares of the insurance provider’s stock valued at $4,272,000 after buying an additional 3,500 shares during the period. Finally, Arkadios Wealth Advisors increased its position in shares of Reinsurance Group of America by 9.0% during the first quarter. Arkadios Wealth Advisors now owns 18,034 shares of the insurance provider’s stock valued at $2,394,000 after buying an additional 1,496 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on RGA. Credit Suisse Group upped their price target on Reinsurance Group of America from $144.00 to $152.00 in a research report on Wednesday, May 24th. Barclays upped their price objective on shares of Reinsurance Group of America from $149.00 to $151.00 in a research report on Friday, June 16th. Raymond James initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, June 7th. They issued a “strong-buy” rating and a $199.00 price objective on the stock. 58.com restated a “maintains” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 24th. Finally, Jefferies Financial Group cut shares of Reinsurance Group of America from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $170.00 to $160.00 in a research report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.64.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $142.94 on Friday. The firm has a market cap of $9.46 billion, a PE ratio of 10.22 and a beta of 0.88. Reinsurance Group of America, Incorporated has a fifty-two week low of $120.29 and a fifty-two week high of $153.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.14 and a current ratio of 0.14. The business has a 50 day moving average price of $140.41 and a 200-day moving average price of $140.23.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Friday, August 4th. The insurance provider reported $4.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $0.28. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.30 billion. Reinsurance Group of America had a return on equity of 20.35% and a net margin of 5.61%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.78 earnings per share. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 18.13 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Monday, August 14th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.80. Reinsurance Group of America’s dividend payout ratio is 24.32%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.